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Entertainment Studios to acquire 11 TV stations for $290M

Entertainment Studios Inc. agreed to buy 11 broadcast television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC for $290 million.

The stations being acquired are ABC (US) – ION (US) affiliate WAAY and WAAY-D2 in Huntsville - Decatur - Florence, Ala.; FOX (US) affiliate WFFT in Ft. Wayne, Ind.; ABC - ION - METV affiliate KEZI, KEZI-D2 and KEZI-D3 in Eugene, Ore.; NBC (US) - Telemundo (US) - CBS (US) - The CW (US) - ION affiliate KNVN, KNVN-DT2, KHSL, KHSL-D2 and KHSL-D5 in Chico-Redding, Calif.; NBC - FOX – ABC affiliate WTVA, WLOV and WTVA-D2 in Columbus-Tupelo-West Point, Miss.; ABC - ANTENNA TV affiliate KDRV and KRDV-D2 in Medford-Klamath Falls, Ore.; CBS - MYTV – ION - affiliate KIMT, KIMT-D2 and KIMT-D3 in Rochester, Minn. - Mason City, Iowa - Austin, Minn.; CBS - FOX - MYTV – The CW affiliate WTHI, WTHI-D2 and WTHI-D3 in Terre Haute, Ind.; and CBS - The CW – ION affiliate WLFI, WLFI-D2 and WLFI-D3 in Lafayette, Ind.

RBC Capital Markets acted as sole financial adviser to Allen Media Group. Latham & Watkins LLP, Nelson Mullins Riley & Scarborough LLP and Loeb & Loeb LLP acted as legal advisers to Allen Media Group. Moelis & Co. LLC was the exclusive financial adviser to USA TV and Eversheds Sutherland (US) LLP provided legal services in connection with the transaction.